Top global insurance brokers.Best's Review presents its premier global insurance broker rankings by revenue, with in-depth looks at leading firms' results and strategies. After a year of tumult and self-examination, insurance brokers are moving forward, with many embracing plans to grow organically and by acquisition. Many are also looking to restructure their operations, strengthen their brand, recruit new talent and expand product offerings. 1. Marsh & McLennan Cos. Revenues 2005:$11.7 billion Brokerage Revenues 2005:$5.4 billion Top Executive: Michael Cherkasky, President and Chief Executive Officer 1166 Avenue of the Americas, New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of , New York 10036 Phone: 212-345-5000 Fax: 212-345-4808 www.marshmac.com Trading Symbol Trading symbol See: Ticker symbol : MMC See MultiMediaCard and Microsoft Management Console. Top Line: Commercial Developments in 2005: Established $850 million fund to settle charges filed by New York state Attorney General The New York State Attorney General is the chief legal officer of the State of New York. The office has been in existence in some form since 1626, under the Dutch colonial government of New York. Eliot Spitzer Eliot Laurence Spitzer (born June 10 1959 ) is an American lawyer, politician and the current Governor of New York. Spitzer was elected governor in the November 2006 election. and New York state Insurance Department; settled similar investigations with 30 state insurance regulators working through NAIC NAIC See National Association of Investors Corporation (NAIC). ; sold major claims management, wholesale broking Bro´king a. 1. Of or pertaining to a broker or brokers, or to brokerage. Redeem from broking pawn the blemished crown. - Shak. and private equity assets; implemented new pricing model that involved increasing revenue through higher commissions and fees that are disclosed to clients, as well as restructuring initiative resulting in thousands of job cuts. Strategy in 2000 and 2007: Predicting turnaround in 2006; continuing implementation of new pricing model and restructuring plans. 2. Aon Corp. Revenues 2005: $9.8 billion Brokerage Revenues 2005:$5.4 billion Top Executive: Greg Case, President and Chief Executive Officer 200 East Randolph St., Chicago, Illinois 60601 Phone: 312-381-1000 Fax: 312-701-3080 www.aon.com Trading Symbol: AOC AOC, n an acronym for the Aromatherapy Organizations Council. Top Lines Addicts speak of top lines to prevent approaching doing something which may trigger a slip, relapse or loss of sobriety. As addicts work with sponsors to help them understand their addiction and the behaviors which trigger their addiction or actions which endanger their : Financial services The examples and perspective in this article or section may not represent a worldwide view of the subject. Please [ improve this article] or discuss the issue on the talk page. : directors and officers, errors and omissions errors and omissions n. short-hand for malpractice insurance which gives physicians, attorneys, architects, accountants and other professionals coverage for claims by patients and clients for alleged professional errors and omissions which amount to negligence. ; commercial property; commercial casualty Developments in 2005: Agreed to pay $190 million to resolve contingent commission-related investigations conducted by a number of state agencies; implemented restructuring initiatives that will result in the elimination of approximately 1,800 employee positions; exited wholesale brokerage business in the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. by completing the sale of Swett & Crawford. Strategy in 2006 and 2007: Expects to save $180 million from restructuring initiatives by 2008. Three key themes: providing differentiated client value, building and retaining world class talent and building a sustainable franchise. 3. Willis Group Holdings Ltd. Revenues 2005:$2.3 billion Brokerage Revenues 2005:$2.2 billion Top Executive: Joseph J. Plumeri, Chairman and Chief Executive Officer 10 Trinity Square, London, United Kingdom Phone: 44-20-7488-8111 www.willis.com Trading Symbol: WSH See Windows Script Host. Top Lines: Commercial, strong presence in reinsurance The contract made between an insurance company and a third party to protect the insurance company from losses. The contract provides for the third party to pay for the loss sustained by the insurance company when the company makes a payment on the original contract. , construction, aerospace, energy, financial and executive risks, employee benefits, health care, niche, environmental. Developments in 2005: Reached agreement with New York regulators and attorney general of Minnesota to resolve industrywide investigation into contingent commissions Contingent commissions is a term used in the American insurance industry for any kind of broker's commission which is contingent upon some event occurring (instead of a commission paid on the sale itself). In the UK this form of payment is known as Overriders. ; eliminated contingent commissions and implemented policy of full disclosure of compensation; made significant progress in China where it has 19 branches in 18 provinces; completed eight acquisitions and divestiture of Stewart Smith Stewart Smith may be the name of:
Strategy in 2006 and 2007: Expects to show growth in organic commissions and fees by increasing client retention, cross-selling with current clients and traditional prospecting. Will continue to seek merger and acquisition opportunities and invest in technology and operations, with strong emphasis on streamlining core processes and improving collaboration with clients and carriers. 4. Arthur J, Gallagher & Co, Revenues 2005: $1.5 billion Brokerage Revenues 2005: $1 billion Top Executive: J. Patrick Gallagher Patrick (Paddy) Gallagher (born 1 December 1946) is a former Sinn Féin the Workers' Party, Workers Party of Ireland and Democratic Left politician who sat in Dáil Éireann for the constituency of Waterford from 9 March 1982 to 4 November 1982. Jr., President and Chief Executive Officer The Gallagher Centre / 2 Pierce Place, Itasca, Illinois Itasca is a village in DuPage County, Illinois, United States. The population was 8,302 at the 2000 census. Schools The Itasca School District #10 is home to three public schools. Raymond E. Benson Primary hosts grades PreK-2. 60143-3141 Phone: 630-773-3800 Fax: 630-285-4000 www.ajg.com Trading Symbol: AJG Ownership: Public Top Lines: Employee benefits; property/casualty insurance markets; and risk management Developments in 2005: Completed 10 acquisitions in 2005; addressed legal and regulatory challenges over retail contingent commissions; entered an agreement with the Illinois attorney general The Illinois Attorney General is the highest legal officer of the state of Illinois in the United States. Originally an appointed office, it is now an office filled by election through universal suffrage. and director of insurance to eliminate its use of contingent commissions for retail clients; entered into agreement to sell the net assets Net assets The difference between total assets on the one hand and current liabilities and noncapitalized long-term liabilities on the other hand. net assets See owners' equity. of Northshore International Insurance Services and all of the stock of Gallagher Benefit Administrators Inc., a third-party employee benefit claim payment administrator; sold ownership interests in limited partnership that owns the Florida Community Development investment. Strategy in 2006 and 2007: Concentration on the brokerage segment, with the merger of its two U.S. reinsurance brokerage subsidiaries into Gallagher RE. Move should enable more efficient client services and improved efforts to build brand awareness. Gallagher RE purchased the Minnesota and Alabama reinsurance assets of JLT JLT Journal of Lie Theory JLT Jardine Lloyd Thompson Group PLC JLT Junior Leader Training (Boy Scouts of America) JLT Just Like That JLT Junior League of Toronto JLT Junior League of Tulsa JLT Junior League of Tampa Re Solutions Inc. of Lawrenceville, N.J. Both transactions will allow the company a "more cohesive implementation" of its strategic plan for global reinsurance expansion. 5. Wells Fargo Wells Fargo armored carriers of bullion. [Am. Hist.: Brewer Dictionary, 1147] See : Protectiveness Wells Fargo company that handled express service to western states; often robbed. [Am. Hist. & Co. Revenues 2005: $5.7 billion Brokerage Revenues 2005: $977 million Top Executive: Peter J. Wissinger, President and Chief Executive Officer 420 Montgomery St., San Francisco, California “San Francisco” redirects here. For other uses, see San Francisco (disambiguation). The City and County of San Francisco (EN IPA: [sænfrənˈsɪskoʊ] 94104 Phone: 866-878-5865 Fax: 651-450-4033 www.wellsfargo.com Trading Symbol: WFC WFC Wi-Fi Connection (Nintendo gaming service) WFC Wide-Field Camera WFC World Financial Center (New York) WFC Workforce Center WFC World Federation of Chiropractic WFC World Food Council Ownership: Public Top Lines: Commercial lines; personal lines; employee benefits; life wholesale Developments in 2005: Created a growth strategy for Wells Fargo's personal lines and small commercial segment. Strategy in 2006 and 2007: Poised for major growth in its middle-market business. 6. Jardine Lloyd Thompson Group In mathematics, the term Thompson group or Thompson's group can refer to either
Revenues 2005: $868.5 million Top Executive: Dominic Burke, Group Chief Executive 6 Crutched Friars The Crutched Friars or Crossed Friars were a Roman Catholic religious order of mendicant friars who went to England in the 13th century from Italy, where they existed for some time, and where they were called Fratres Cruciferi. , London, EC3N 2PH United Kingdom Phone: 44-20-7528-4444 Fax: 44-20-7528-4185 www.jltgroup.com Trading Symbol: JLT Ownership: Public Top Lines: Risk management, insurance/reinsurance brokerage, employee benefits administration and consultancy Developments in 2005: Separated its reinsurance business from its Risk Solutions group to form a dedicated reinsurance company; Houston-based broking arm changed its name to Jardine Lloyd Thompson LLC (Logical Link Control) See "LANs" under data link protocol. LLC - Logical Link Control , from Capital Risk LLC. JLT Asia was named Asia's Broker of the Year for a record fourth time at the Asia Insurance Industry Awards. Strategy in 2006 and 2007: Expects earnings increases resulting from the BGHPW acquisition during 2006 and beyond. Foresees a "very competitive" race among brokers to retain and grow market share. Will continue to consider expansion opportunities for its Risk & Insurance business, and will continue to secure additional talent for the company. 7. Brown & Brown Inc. Revenues 2005: $785.8 million Brokerage Revenues 2005: $127.1 million Top Executive: J. Hyatt Brown, Chairman and Chief Executive Officer 220 S. Ridgewood Ave., Daytona Beach, Florida “Daytona” redirects here. For other uses, see Daytona (disambiguation). Daytona Beach is a city in Volusia County, Florida, USA. According to 2006 U.S. Census Bureau estimates, the city has a population of 64,421. 32114 Phone: 386-252-9601 Fax: 386-239-5705 www.bbinsurance.com Trading Symbol: BRO bro n. pl. bros Slang 1. A brother. 2. Friend; pal. Used as a form of familiar address for a man or boy: So long, bro. Ownership: Public Top Lines: Property, workers' compensation workers' compensation, payment by employers for some part of the cost of injuries, or in some cases of occupational diseases, received by employees in the course of their work. , employee benefits Developments in 2005: Total revenues increased by $138.8 million, or 21.5%; several acquisitions led by Hull & Co. Strategy in 2006 and 2007: Business model of active acquisitions remains nearly the same as when it was conceived in 1982. 8. BB&T Insurance Services Inc. Revenues 2005: $777.3 million Brokerage Revenues 2006: $756 million Top Executive: H. Wade Reece, President 3605 Glenwood Ave., Raleigh, North Carolina For other uses of this name, see Raleigh. Raleigh (IPA: /ˈrɑli/, ral-ee) is the capital of the State of North Carolina and the county seat of Wake County. 27612 Phone: 919-716-9777 Fax: 919-716-9783 www.bbt.com Trading Symbol: BBT Ownership: Corporation Top Lines: Commercial property/casualty; employee benefits; personal lines Developments in 2005: Acquired five insurance businesses and four nonbank non·bank adj. Of, relating to, or done by a business or an institution that is not a bank but performs similar services. financial services companies, including the acquisition of a 70% ownership interest in Sterling Capital Management LLC, an investment management services company based in Charlotte, N.C. Strategy in 2006 and 2007: With the acquisitions of 53 community banks and thrifts, 77 insurance agencies and 28 nonbank financial services providers over the past 15 years, expects to continue to expand and enhance its franchise through mergers and acquisitions. 9. Alexander Forbes Ltd. Revenues 2005: $753 million, business year ending March 31,2005 Top Executive: Rael Gordon, Chief Executive Officer Alexander Forbes Place, 61 Katherine St., Sandown, Marshalltown, 2146 South Africa Phone: 27-11-269-0000 Fax: 27-11-269-1111 www.alexanderforbes.com Trading Symbol: AFB AFB abbr. acid-fast bacillus AFB Acid-fast bacillus, also 1. Aflatoxin B 2. Aorto-femoral bypass on the Johannesburg Stock Exchange Johannesburg Stock Exchange (JSE) Established in 1886, the Johannesburg Stock Exchange is the only stock exchange in South Africa. Gold and mining stocks form the majority of shares listed. Ownership: Public Top Lines: Risk services; financial services; multi-manager investments Developments in 2005: Strong operating results from African businesses; significant growth in international financial services; 1.5 billion rand (about $397.5 million) of debt repaid; maintenance of shareholder distribution; strengthening corporate governance Corporate Governance The relationship between all the stakeholders in a company. This includes the shareholders, directors, and management of a company, as defined by the corporate charter, bylaws, formal policy, and rule of law. and integrating risk-management procedures into operations and control structures worldwide; and continuation of Black Economic Empowerment Black Economic Empowerment (BEE) is a program launched by the South African government to redress the inequalities of Apartheid by giving previously disadvantaged groups (black Africans, Coloureds and Indians) economic opportunities previously not available to them. as a social and business imperative in South Africa. Strategy in 2006 and 2007: Drive growth in each of main business entities: Africa Financial Services, International Financial Services, Investment Solutions, Africa Risk and Insurance Services, International Risk Services. 10. Hilb Regal & Hobbs Co. Revenues 2005: $673.9 million Brokerage Revenues 2005: $658 million Top Executive: Martin L. Vaughan III, Chairman and Chief Executive Officer 4951 Lake Brook Drive, Glen Allen, Virginia Glen Allen is a census-designated place (CDP) in Henrico County, Virginia, United States. The population was 12,562 at the 2000 census. Geography Glen Allen is located at (37.660094, -77.485634)GR1. 23060 Phone: 804-747-6500 Fax: 804-747-6046 www.hrh.com Trading Symbol: HRH Ownership: Publicly owned Top Lines: Middle-market property and casualty; employee benefits; major accounts property and casualty Developments in 2005: Wrote a record amount of new business and added a large number of executives and sales professionals to its team; enhanced its capabilities in many industries and areas of specialization, including real estate, marine, executive risk, employee benefits and health care; and added tools and training to provide value and service to its clients. Strategy in 2006 and 2007: Drive growth through new sales and acquisitions; and to further export national resources and client tools throughout the company and into the hands of clients. 11. USI Holdings Corp. Revenues 2005: $508 million Brokerage Revenues 2005: $508 million Top Executive: David L. Eslick, Chairman, President and Chief Executive Officer 555 Pleasantville Road, Suite 160 South, Briarcliff Manor, New York Briarcliff Manor is a village in Westchester County in the state of New York. It is shared between the towns of Mount Pleasant and Ossining, and lies entirely within the ZIP code of 10510. 10510 Phone: 914-749-8500 Fax: 610-537-4500 www.usi.biz Trading Symbol: USIH Ownership: Public Top Lines: Property/casualty; group employee benefits; specialized benefits services Developments in 2005: Year was USI's third full year as a publicly traded company publicly traded company A company whose shares of common stock are held by the public and are available for purchase by investors. The shares of publicly traded firms are bought and sold on the organized exchanges or in the over-the-counter market. ; increased revenues and operating income Operating Income The profit realized from a business' own operations. Notes: This would not include income from things such as investments in other firms. Also referred to as operating profit or recurring profit. ; more than 20 acquisitions. Strategy in 2000 and 2007: Considers its "Best Practices Play Book" as cornerstone of future operational success. Business model of revenue diversity, cross-selling and successful integration of acquisitions. 12. Hub International Ltd. Revenues 2005: $442.6 million Brokerage Revenues 2005: $430.4 million Top Executive: Martin P. Hughes, Chairman and Chief Executive Officer 55 East Jackson Blvd., Chicago, Illinois 60604 Phone: 877-402-6601 Fax: 877-402-6606 www.hubinternational.com Trading Symbol: HBG HBG Harrisburg (Pennsylvania) HBG Helsingborg (Sweden) HBG Hollandsche Beton Groep HBG Home Buyers Guide (magazine) HBG Honolulu Botanical Gardens Ownership: Public Top Lines: Commercial lines; personal lines; employee benefits Developments in 2005: 6% organic growth; acquired 15 brokerages with $45.9 million annualized annualized Of or relating to a variable that has been mathematically converted to a yearly rate. Inflation and interest rates are generally annualized since it is on this basis that these two variables are ordinarily stated and compared. revenue, including PLI PLI Practising Law Institute PLI Professional Liability Insurance PLI Programming Language Interface (Verilog programming language) PLI Partido Liberal Independiente (Independent Liberal Party, Nicaragua) from Chubb; successfully integrated three Talbot Financial Corp. hubs; grew revenue 25% to $443 million and adjusted diluted earnings per share diluted earnings per share An earnings measure calculated by dividing net income less preferred stock dividends for a period by the average number of shares of common stock that would be outstanding if all convertible securities were converted into shares of 28% to $1.54 (excluding Talbot compensation charge); and introduced Quadrant4 leadership development program. Strategy in 2000 and 2007: Sustain growth through continued development of sales culture, organic growth, strategic acquisitions, improved productivity and margins. 13. Wachovia Insurance Services Inc. Revenues 2005: $430.1 million Brokerage Revenues 2005: $421.7 million Top Executive: Stewart McDowell, President 227 West Trade St., Charlotte, North Carolina “Charlotte” redirects here. For other uses, see Charlotte (disambiguation). Charlotte is the largest city in the state of North Carolina and the 20th largest city in the United States. 28202-1675 www.wachoviainsurance.com Trading Symbol: WB Ownership: Public Top Lines: Property/casualty, employee benefits, life insurance Developments in 2005: Acquired Palmer & Cay Inc, in May; expanded geographic footprint to include 46 locations in 20 states and Washington, D.C. Strategy in 2006 and 2007: Focus on client services and expansion of technical capabilities in property/casualty and employee-benefit practices. 14. Lockton Companies Inc. Revenues 2005: $396 million Brokerage Revenues 2005: $388 million Top Executive: David M. Lockton, Chairman 444 W. 47th St., Suite 900, Kansas City, Missouri Kansas City is the largest city in the state of Missouri. It encompasses parts of Jackson, Clay, Cass, and Platte counties and is the anchor city of the Kansas City Metropolitan Area, the second largest in Missouri, which includes counties in both Missouri and Kansas. 64112-1906 Phone: 816-960-9000 Fax: 816-960-9099 www.lockton.com Ownership: Private Top Lines: Property/casualty; risk management services; benefits Developments in 2005: New offices in New York City New York City: see New York, city. New York City City (pop., 2000: 8,008,278), southeastern New York, at the mouth of the Hudson River. The largest city in the U.S. and South Florida; Lockton Companies of Colorado Inc., a unit of Lockton, acquired substantially all of the assets of Benefit Management & Design Inc., a Denver-based insurance broker and employee-benefit consulting firm; Lockton Risk Services, a unit of Lockton, said in April 2005 that it would become Lockton Affinity. 15. ABD ABD n. A candidate for a doctorate who has completed all the requirements for the degree, such as courses and examinations, with the exception of the dissertation. [a(ll) b(ut) d(issertation).] Insurance & Financial Services Revenues 2005: $156.5 million Brokerage Revenues 2005: $155.3 million Top Executive: Dan R. Francis, President and Chief Executive Officer 305 Walnut St., Redwood City, California Redwood City is a suburb located on the San Francisco Peninsula in the San Francisco Bay Area of California. Redwood City is the county seat of San Mateo County. As of the 2005 census, the city had a total population of 76,000. 94063 Phone: 650-839-6000 Fax: 650-839-6655 www.cybersure.com Trading Symbol: GBBK Ownership: Public, subsidiary of Greater Bay Bancorp Top Lines: Commercial property/casualty; employee benefits; and personal lines Developments in 2005: Dan R. Francis appointed president and chief executive officer, effective Jan. 1, 2006; ranked as the No.1 U.S. broker of directors and officers liability insurance Directors and Officers Liability Insurance is insurance payable to the directors and officers of a company to cover damages or defence costs in the event they are sued for wrongful acts while they were with that company. in 2005 in Tillinghast Towers Perrin D&O survey; significant expansion of Nevada operations with the acquisition of Lucini Parish Insurance; expansion of San Diego County employee benefits, property/casualty insurance and risk management consulting operations with the opening of new office in Carlsbad; relocation and expansion of California Central Coast office; plans for expansion and relocation of California North Bay operations announced. 16. CBIZ CBIZ Century Business Services Inc. Benefits & Insurance Services Inc, Revenues 2005: $154.3 million Brokerage Revenues 2005: $127.1 million Top Executive: Rob O'Byrne, Senior Vice President, Benefits Administration and Insurance Services 6060 Oak Tree Blvd. South, Suite 500, Cleveland, Ohio 44131 Phone: 216-447-9000 Fax: 216-447-9007 www.cbiz.com Trading Symbol: CBIZ Ownership: Public Top Lines: Benefits consulting and administration; wealth management services; property/casualty Developments in 2005: Consolidated and formed CBIZ Human Capital Advisory Services advisory services advisory services provided to the public, in their capacity as owners and managers of animals, are an important part of veterinary science. They may be provided by government bureaux, by commercial companies who deal in pharmaceuticals or animals or animal ; renewed focus on growing wealth management business; acquired Gallery Asset Management of Cleveland; cross-serving revenue increased 34%. Strategy in 2000 and 2007: Expand and enhance product offerings in geographic locations where the company already has an existing platform. In the first quarter of 2006, realigned operations into four business groups: Financial Services, Employee Services, National Practices and Medical Management Professionals. 17. The Leavitt Group Revenues 2005: $121 million Top Executive: Dane Leavitt, Chief Executive Officer 216 South 200 West, Cedar City, Utah Cedar City is a city located in Iron County, Utah, 250 miles south of Salt Lake City on Interstate 15. It is the home of Southern Utah University, the Utah Shakespearean Festival, the Neil Simon Theatre Festival, the Utah Summer Games, and other events. 84720 Phone: 435-586-6553 Fax: 435-586-1510 www.leavitt.com Ownership: S-Corporation Top Lines: Commercial package; workers' compensation; general liability Developments in 2005: New affiliate agencies include Valley Insurance Services of Covina, Calif.; Archibald Insurance in Rexburg, Idaho, and Jim Calfee Insurance Agencies in Broomfield, Colo. Opened an FDIC-insured industrial bank; consolidated employee services into one human resources department; and added other key services to assist affiliate agencies. Strategy in 2000 and 2007: Continue to seek out sound affiliation opportunities with managers who desire local ownership opportunities. Expand market opportunities and support services support services Psychology Non-health care-related ancillary services–eg, transportation, financial aid, support groups, homemaker services, respite services, and other services to help affiliate agencies. 18. Keenan & Associates Revenues 2005: $103.7 million Top Executive: Sean K. Smith, President and Chief Executive Officer 2355 Crenshaw cren·shaw also cran·shaw n. A variety of winter melon (Cucumis melo var. inodorus) having a greenish-yellow rind and sweet, usually salmon-pink flesh. [Origin unknown.] Blvd, Suite 200, Torrance, California 90501 Phone: 310-212-3344 Fax: 310-782-2064 www.keenan.com Ownership: Privately Held--ESOP Top Lines: Workers' compensation; property and liability; employee benefits Developments in 2005: Launched investment platform for California school district employees offering fiduciary liability relief to the school districts that sponsor a governmental 457(b) plan; introduced a comprehensive actuarial, consulting, cost management and investment program that provides all necessary Governmental Accounting Standards Board The Governmental Accounting Standards Board (GASB) is currently the source of generally accepted accounting principles (GAAP) used by State and Local governments in the United States of America. 43 & 45 compliance elements, while mitigating fiduciary liability for a public agency. 19. Frank Crystal & Co. Revenues 2005: $100 million Top Executive: James W. Crystal, Chairman and Chief Executive Officer Financial Square, 32 Old Slip, New York, New York 10005 Phone: 212-344-2444 www.fcrystal.com Ownership: Private Top Lines: Financial services, commercial, aviation Developments in 2005: Opened a new office in Portland, Ore., and achieved steady business growth. Strategy in 2000 and 2007: Continue to fill geographic coverage areas--another new office was opened in Seattle in 2006. While business presence is international, offices are all in the United States. 20. Meadowbrook Insurance Group Inc. Revenues 2005: $86.7 million Brokerage Revenues 2005: $11.3 million (agency commissions) Top Executive: Robert S. Cubbin, Chief Executive Officer and President 26255 American Drive, Southfield, Michigan 46034-6112 Phone: 248-204-8590 www.meadowbrook.com Trading Symbol: MIG Ownership: Public Top Lines: Workers' compensation; commercial multiperil; general liability Developments in 2005: Acquired Insurance & Benefit Consultants of Sarasota, Fla., a retail agency specializing in group and individual health insurance products and personal financial planning Financial planning Evaluating the investing and financing options available to a firm. Planning includes attempting to make optimal decisions, projecting the consequences of these decisions for the firm in the form of a financial plan, and then comparing future performance against services; issued $20.6 million in junior subordinated debentures through a subsidiary trust, through which it earned $19.4 million in net proceeds Net Proceeds The amount received after all costs are deducted from the sale of a piece of property or security. Notes: In the case of an investor selling a security, net proceeds represent the proceeds from the sale minus any trading costs (i.e. commissions). , $10 million of which went to insurance subsidiaries. Agency operations saw an increase in new business and renewal retention, which was partly offset by a reduction in renewal rates. Strategy in 2006 and 2007: Focus on organic growth coupled with growth from acquisitions; seeking targeted geographic growth in specialty areas and existing markets. The following brokers, although not ranked, shared their results, developments and strategies with Best's Review. Assurance Agency Ltd. Revenues 2005: $26.4 million Brokerage Revenues 2005: $28.4 million Top Executive: Anthony Chimino, President One Century Centre, 1750 E. Golf Road, Schaumburg, Illinois 60173 Phone: 847-797-5700 Fax: 847-440-9130 www.assuranceagency.com Ownership: Private Top Lines: Property/casualty; employee benefits; bonds Developments in 2005: Upgraded agency management system, providing company with new efficiencies, improved client access and advanced reporting tools. Launched a new logo and brand promise. Formalization for·mal·ize tr.v. for·mal·ized, for·mal·iz·ing, for·mal·iz·es 1. To give a definite form or shape to. 2. a. To make formal. b. of Assurance Caring Together--an employee-driven initiative that helps to manage and facilitate various charity efforts. ACT directly donated supplies as well as funds totaling more than $22,000 to local and national sponsored charities, including relief for Hurricane Katrina. Strategy in 2006 and 2007: Modify organizational structure by combining smaller teams into larger teams and creating team leaders and staff managers; new positions in marketing team. Executive management and marketing team are recreating proposal format and content. Will also implement a new CRM (Customer Relationship Management) An integrated information system that is used to plan, schedule and control the presales and postsales activities in an organization. solution next year, which will help better manage and organize prospect database. Barney & Barney LLC Revenues 2005: $42.8 million Brokerage Revenues 2005:$42.8 million Top Executive: Paul J. Hering, Chief Executive Officer 9171 Towne Centre Drive, Suite 500, San Diego, California “San Diego” redirects here. For other uses, see San Diego (disambiguation). San Diego is a coastal Southern California city located in the southwestern corner of the continental United States. As of 2006, the city has a population of 1,256,951. 92122 Phone: 800-321-4696 Fax: 858-452-7530 www.barneyandbarney.com Ownership: Privately held Top Lines: Property/casualty; employee benefits Developments in 2005: Expanded its office onto three floors of the Golden Triangle office building, in which it has done business for the past 20 years. Launched its initiative to expand geographically into Orange County. Strategy in 2006 and 2007: In January 2006, opened its Orange County office in the Aliso Viejo. Bollinger Inc. Revenues 2005: $83.6 million Brokerage Revenues 2005: $83.5 million Top Executive: John A. Windolf, Chairman and Chief Executive Officer 101 JFK Parkway, Short Hills, New Jersey 07078 Phone: 800-526-1379 Fax: 973-921-2876 www.bollingerinsurance.com Ownership: Private Top Lines: Prescription drug prescription drug Prescription medication Pharmacology An FDA-approved drug which must, by federal law or regulation, be dispensed only pursuant to a prescription–eg, finished dose form and active ingredients subject to the provisos of the Federal Food, Drug, coverage; personal lines; commercial lines Developments in 2005: Further investment in improving the quality and quantity of services to be provided to clients by starting a Risk Management Practice and the Bollinger Academy to attract highly qualified college graduates to the company. Strategy in 2006 and 2007: Continue to invest in upgrading employees' training, technology used by employees and services offered to clients. To grow organically, but also aggressively pursue further merger and acquisition opportunities that have been a key factor in past success. Expand the company's geographic footprint to additional states in the Northeast. Bolton & Company Revenues 2005: $21.1 million Brokerage Revenues 2005: $21.1 million Top Executive: Steve Brockmeyer, President; Ronald Wanglin, Chairman, co-chief executive officers 245 S. Los Robles Robles is a common surname in the Spanish language meaning oaks, and may refer to:
Phone: 626-799-7000 Fax: 626-583-2117 www.boltonco.com Trading Symbol: Private Ownership: S Corporation Top Lines: Commercial property/casualty; employee benefits; personal lines Developments in 2005: Revenues relatively flat. Concerns about organic growth. Some firming in market of last quarter. Because of softness in first three quarters, growth was 5% to 6%. Biggest accomplishments include weathering the soft market, positive organic growth, and bringing new producers into the agency to add revenue opportunities. Strategy in 2006 and 2007: Goals are to grow 10% to 12% in true organic growth and to get to $30 million in next five years. In the process of updating and creating a strategic plan for long-term growth. Certain profit centers in company include writing K-12 private schools. Private school revenues accounted for 5% to 6% of gross revenue. Goal to continue to grow that sector. Dominant in California and looking to grow in other states. Real estate, technology, health care round out the top four areas of business. Heath Benefits Consulting Inc. Revenues 2005: $8.5 million Brokerage Revenues 2005: $7 million Top Executive: David Haber, President 1030-185 The West Mall, Toronto, Ontario M9C 5L5 Canada Phone: 416-620-0779 Fax: 416-620-9416 www.heath.ca Ownership: Private Top Lines: Life and health; pension; outsourcing Strategy in 2006 and 2007: On June 1, Heath Benefits Consulting was acquired by Morneau Sobeco. Morneau Sobeco is the largest Canadian-owned pension and benefits consulting and outsourcing firm. Morneau Sobeco serves thousands of clients, ranging from Fortune 500 companies to small and medium-sized employers. Mesirow Financial Revenues 2005: $65.3 million Brokerage Revenues 2005: $63.6 million Top Executive: Richard S. Price, President and Vice Chairman 321 N. Clark St., Chicago, Illinois 60610 Phone: 312-595-6200 Fax: 312-595-6993 www.mesirowfinancial.com Ownership: Private Top Lines: Property/casualty, employee benefits Developments in 2005: Expanded Insurance Services practice by acquiring Settlement Planning Associates Inc., a boutique structured settlement firm. Enhanced property and casualty capabilities by expanding the Environmental Insurance and Risk Management practice. Strategy in 2006 and 2007: Mesirow Financial's Property and Casualty, Employee Benefits and other dedicated insurance practice groups will continue to provide protection to midsize and large firms. Also offer clients the services of their consulting division, including litigation An action brought in court to enforce a particular right. The act or process of bringing a lawsuit in and of itself; a judicial contest; any dispute. When a person begins a civil lawsuit, the person enters into a process called litigation. support, valuation services and interim management. The NIA NIA National Institute on Aging (NIH) NIA National Indoor Arena (UK) NIA National Intelligence Agency (South Africa and Thailand) NIA National Institute of Accountants Group LLC Revenues 2005: $73.6 million Brokerage Revenues 2005: $72.5 million Top Executive: Steven L. Grossberg, President and Chief Executive Officer 66 Route 17, Paramus, New Jersey Paramus (IPA: /pəˈræməs/) is a borough in Bergen County, New Jersey, United States. As of the United States 2000 Census, the borough population was 25,737. 07652 Phone: 201-845-6600 Fax: 201-845-0061 www.niagroup.com Ownership: Limited liability corporation Top Lines: Commercial lines; group business; personal lines Developments in 2005: Expanded its niche divisions and specialty areas in order to provide tailored services to businesses and clients operating within certain industries. Implemented quality service standards and staff accountability measures as a means to enhance the client experience of its core book of business. Strategy in 2006 and 2007: Continue to develop niche divisions and specialty businesses and expand its core book of business. Provide continuous training and education to associates. Pursue acquisitions that match its corporate strategy and are geographically compatible. North American North American named after North America. North American blastomycosis see North American blastomycosis. North American cattle tick see boophilusannulatus. Group Revenues 2005: $30.2 million Brokerage Revenues 2005: $30.2 million Top Executive: Michael F. Ross, President and Chief Executive Officer 5101 N. Classen Circle, Suite 300, Oklahoma City, Oklahoma “OKC” redirects here. For the airport, see Will Rogers World Airport. Oklahoma City is the capital of the U.S. state of Oklahoma. The county seat of Oklahoma County, the city is the 30th largest city in the U.S. 73118 Phone: 405-523-2100 Fax: 405-556-2332 www.na-group.com Ownership: C-Corporation Top Lines: Workers' compensation; property; casualty Developments in 2005: Exceeded $30 million in gross revenues and successfully merged Commercial Insurance Services into their Oklahoma City operations, which included transportation divisions and claims management services. Acquired SIRPRO (now known as Global Intermediaries of Eugene), a wholesale operation focused on public entity business. Strategy in 2006 and 2007: Continue growth and expansion through acquisitions, program development and new producer hiring. Look to further expand wholesale operations. R&R Insurance Services Inc. Revenues 2005: $15.6 million Brokerage Revenues 2005: $12.7 million Top Executive: Ken Reisch, President 1581 E. Racine Ave., Waukesha, Wisconsin 53186 Phone: 262-574-7000 Fax: 262-574-7010 www.rrins.com Ownership: S Corporation Top Lines: Commercial; life and health; personal Developments in 2005: Acquired the AIS Group, another Wisconsin-based agency with 30 employees, three locations and $5 million in premium; established its Resource Center for Risk Management Concerns. Marked its 30th year in 2005; became a Best Practices Agency through the Independent Agents and Brokers of America. Strategy in 2006 and 2007: Support its "new/new" sales culture; plans to write new business through an "all-employee cross-selling" approach; integration of AIS Group also will be a priority. Schiff, Kreidler-Shell Inc. Revenues 2005: $20.5 million Brokerage Revenues 2005: $19.8 million Top Executive: Thomas R. Dietz, Chairman and Chief Executive Officer 1 West 4th St., Suite 1300, Cincinnati, Ohio 45202 Phone: 513-977-3100 Fax: 513-977-3193 www.sksins.com Ownership: Privately held S-Corp Top Lines: Commercial property/casualty; life and employee benefits; personal property/casualty Developments in 2005: Thomas R. Dietz was promoted from president and chairman to chief executive officer. Alvin Roehr was promoted to president. The company was a finalist for Greater Cincinnati's Best Places to Work. Strategy in 2006 and 2007: To drive strategic plan through achievement of goals in 10 defined critical success factors. Scott Insurance Revenues 2005: $28.8 million Brokerage Revenues 2005: $28.1 million Top Executive: Walker P. Sydnor Jr., President 1301 Old Graves Mill Road, Lynchburg, Virginia 24502 Phone: 434-832-2100 Fax: 434-832-2190 www.scottins.com Ownership: Employee Owned ESOP ESOP See: Employee Stock Ownership Plan ESOP See Employee Stock Ownership Plan (ESOP). Top Lines: Commercial property/casualty; group benefits; bonds Developments in 2005: Experienced growth of alternative market capabilities and client base; expansion of risk performance capabilities; hired four new producers; continued growth of transportation initiative; overall growth of 15.6%. Strategy in 2006 and 2007: Continue to develop unique risk management abilities; continue recruiting top-level talent; maximize the unique abilities of employee ownership. Thoits Insurance Service Inc. Revenues 2005: $14 million Brokerage Revenues 2005: $14 million Top Executive: Don Way, Chairman and Chief Executive Officer 444 Castro St., Suite 200, Mountain View, California For the census-designated place, see Mountain View, Contra Costa County, California. For other places called "Mountain View", see . Mountain View is a city in Santa Clara County, in the U.S. state of California. The city gets its name from the views of the Santa Cruz Mountains. 94041 Phone: 650-934-0300 Fax: 650-934-0399 www.thoitsinsurance.com Ownership: ESOP Top Lines: Workers' compensation; commercial package; group benefits Developments in 2005: Revenue grew by 30%; 20% was due to the acquisition of two firms, Battistini and Canfield Insurance Services, and the Noble Group. 10% was from organic growth. Strategy in 2006 and 2007: Aiming for 20% organic growth.
The Top 20 Global Brokers
Broker Total Revenues 2005
1. Marsh & McLennan Cos. $11.7 billion
2. Aon Corp. $9.8 billion
3. Willis Group Holdings Ltd. $2.3 billion
4. Arthur J. Gallagher & Co. $1.5 billion
5. Wells Fargo & Co. * $977.0 million
6. Jardine Lloyd Thompson Group Plc. $868.5 million
7. Brown & Brown Inc. $785.8 million
8. BB&T Insurance Services Inc. $777.3 million
9. Alexander Forbes Ltd. $753.0 million **
10. Hilb Rogal & Hobbs Co. $673.9 million
11. USI Holdings Corp. $508.0 million
12. Hub International Ltd. $442.6 million
13. Wachovia insurance Services Inc. * $421.7 million
14. Lockton Companies Inc. $396.0 million
15. ABD Insurance & Financial Services $156.5 million
16. CBIZ Benefits & Insurance Services Inc. $154.3 million
17. The Leavitt Group $121.0 million
18. Keenan & Associates $103.7 million
19. Frank Crystal & Co. $100.0 million
20. Meadowbrook Insurance Group Inc. $86.7 million
* Because Wells Fargo and Wachovia are primarily banking operations,
they are ranked by brokerage revenues.
** Business year ending March 31, 2005.
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